DUBLIN--(BUSINESS WIRE)--The "Global Third Party Logistics Market, By Transport, By Service Type, By Industry & By Region- Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Third Party Logistics Market was valued at USD 1045.93 Billion in 2021, and it is expected to reach a value of USD 1924.31 Billion by 2028, at a CAGR of 9.10% over the forecast period (2022 - 2028).
The ability of a company to outsource logistics and distribution activities is referred to as third-party logistics. Third-party logistics companies can provide inventory management, cross-docking, door-to-door delivery, and product packaging. The third-party logistics services market is expected to grow significantly as the e-commerce industry grows.
Furthermore, as manufacturers and retailers focus on their core business (referred to as core competencies) and increase interest in subcontracting activities such as logistics, which require expertise, demand for this service is likely to rise in the near future. Because of the increased competition, manufacturers' attention has shifted to promoting each specialization in manufacturing and distribution.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Third-Party Logistics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research.
This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The Global Third Party Logistics Market is segmented on the basis of Transport, Service Type, Industry, and Region. Based on Transport, the market is segmented into Railways, Roadways, Waterways, and Airways. Based on Service Type, the market is segmented into Dedicated Contract Carriage (DCC), Domestic Transportation Management, International Transportation Management, Warehousing & Distribution, and Others. Based on the Industry, the market is segmented into Technological, Automotive, Retailing, Manufacturing, Elements, Food & Groceries, Healthcare, and Others. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Drivers
Increased trade activities around the world are a key factor driving industry growth. Globalization is fueled by dynamic market conditions and global economic growth. Various trade-related activities have increased as a result of increased globalization. As a result, manufacturers and retailers struggle to keep track of these operations in a timely manner. Third-party logistics services help manufacturers keep track of and control over these activities. This factor is expected to drive the market. Furthermore, the global market's expansion is a major driver propelling the third-party logistics sector forward.
Restraint
Infrastructure constraints, a shortage of logistics experts, and government-imposed regulatory issues are the major factors impeding the growth of the global third-party logistics market. Underdeveloped countries struggle to develop logistics services in comparison to industrialized countries. This development is the result of a scarcity of highly skilled professionals in the industry. The lack of experienced logistics professionals further limits the market's growth.
Market Trends
One of the key trends in the global third party logistics market is the integration of novel technologies. Technology plays an important role for shippers as well as service providers. For pricey and sophisticated technology solutions, shippers are increasingly relying on third-party logistics. Users are increasingly turning to their logistics providers for help with supply chain event management (SCEM), transportation management systems (TMS), international trade logistics systems (ITLS), and warehouse management systems (WMS).
Key Topics Covered:
Executive Summary
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
KEY COMPANY PROFILES
Companies Mentioned
- DHL Group (Germany)
- Kuehne + Nagel (Switzerland)
- C.H. Robinson (US)
- Ceva Logistics (France)
- FedEx Corporation (US)
- Nippon Express (Japan)
- DB Schenker (Germany)
- UPS (US)
- JB Hunt (US)
- Panalpina (Switzerland)
For more information about this report visit https://www.researchandmarkets.com/r/iofdkx
